Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0154%/8h= +16.9% APRpaid last 24h +0.040%

Price spread now: Arcus against BingX+0.095%7-day average +0.127% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$290.292% of the position

Long on BingX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.069%+$7 on $10k

Price spread, last 7 days+0.038%+$4 · spread now +0.095%, 7d avg +0.127%

Together, before fees+0.107%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.032% cheaper against BingX than usual: you would sell low and buy high (spread +0.095% now, against its 7-day average of +0.127%). If the spread goes back, that is −$3 on $10k: about 17 hours of funding at the current rate (+$5 a day). At the pace of the last 3 days (+0.069% in total) that is about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZEC-USDC	1,476.9	0.0100	pay 0.0100% / 8h	6h 31m	—	$6.7M	—
Short	Arcus ZEC-USD	1,478.2	0.0254	get 0.0032% / 1h	31m 36s	$682K	$8.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BingXbpFee ArcusbpOrdersPrice spread, now +0.095%Rate

Funding earned: $32.42
Price spread: +0.095% → +0.127%: −$3.2
Slippage, 4 orders: −$14.73
Fee BingX: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $0
Costs to cover: 0.292%
Break-even: 7.0 days

Slippage from BingX: live order book, 11 min ago; Arcus: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BingX live order book, 11 min ago	0.10 bp	9.1 bp −$9	11.7 bp −$117	32.0 bp −$3,197	89.6 bp −$44.8K
Sell Arcus live order book, 3 min ago	0.00 bp	7.2 bp −$7	18.4 bp −$184	doesn't fit	doesn't fit

ZEC on 50 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective ZEC/USDC PERP	−0.3678%	1h	1,471.7	−0.347%	$34K	$274K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,477	+0.011%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0012%	1h	1,471.7	−0.349%	$400K	$517K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,476.6	−0.016%	$18.1M	$43.6M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,476.3	−0.036%	$416K	$55K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,476.5	−0.024%	$976K	$5.0M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,474.4	−0.167%	$84K	$258K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,476.5	−0.024%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0027%	8h	1,476.5	−0.023%	$295K	$1.1M	20x	as long as short
Variational Omni ZEC	+0.0033%	8h	1,470.4	−0.435%	$47.9M	$33.3M	—	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0009%	1h	1,476.4	−0.029%	$386K	—	100x	as long as short
01 Exchange ZECUSD	+0.0064%	1h	1,478.2	+0.091%	$8K	$9K	5x	as long as short
Phoenix ZEC	+0.0070%	1h	1,471.2	−0.383%	$4.7M	$1.5M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0093%	8h	1,476.5	−0.025%	$181.7M	$1.28B	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,477.5	+0.044%	$174K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,477.1	+0.018%	$16K	$840K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,476.4	−0.031%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,476	−0.055%	$2.6M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,477.9	+0.071%	$769.2M	$444.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,477.2	+0.021%	$14.9M	$31.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,476.9	+0.001%	$1.7M	$2.7M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,477.6	+0.053%	$682.5M	$2.34B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,477.3	+0.029%	$272.5M	$622.2M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,470.5	−0.431%	$893K	$19K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,476.9	+0.004%	$50.1M	$175.4M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,476.8	−0.006%	$218.2M	$798.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,476.9	+0.005%	$103.9M	$56.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,477.4	+0.037%	$164.1M	$284.7M	75x	as long as short
BingX ZEC-USDClong	+0.0100%	8h	1,476.9	long leg	—	$6.7M	—
edgeX ZECUSDC	+0.0100%	4h	1,471.3	−0.379%	$572K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,473	−0.261%	$3.0M	$443K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,471.9	−0.337%	$428K	$907K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,472.5	−0.295%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,476.5	−0.024%	$339K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,476.6	−0.016%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,475	−0.124%	$459K	$510K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,477.1	+0.019%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,476.5	−0.024%	$243K	$3.8M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,475.3	−0.105%	$2.6M	$19.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,476.1	−0.049%	$3.9M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,476.7	−0.008%	$3.2M	$7.1M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,476.8	−0.006%	$48K	$167K	20x	as long as short
Arcus ZEC-USDshort	+0.0254%	1h	1,478.2	+0.095%	$682K	$8.7M	10x
Lighter ZEC	+0.0264%	1h	1,477.9	+0.074%	$19.3M	$48.1M	20x	as long as short
Lighter RH ZEC	+0.0296%	1h	1,478.7	+0.127%	$2.1M	$7.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0344%	1h	1,477.4	+0.039%	$615K	$1.3M	25x	as long as short
RISEx ZEC/USDC	+0.0374%	1h	1,478.1	+0.088%	$868K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0472%	1h	1,478.3	+0.096%	$3.7M	$9.7M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0513%	1h	1,476.9	+0.001%	$2.5M	$3.9M	15x	as long as short
Aftermath Perps ZECUSD	+0.0722%	1h	1,472.5	−0.295%	$44K	$46K	10x	as long as short